International Petroleum Corporation Announces Results of Normal Course Issuer Bid and Updated Share Capital

During the period of May 26 to 30, 2025, IPC repurchased a total of 60,000 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC.

A summary and detailed breakdown of the transactions conducted on Nasdaq Stockholm during the period of May 26 to 30, 2025 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is available with this press release on IPC’s website: www.international-petroleum.com/news-and-media/press-releases.

During the same period, IPC purchased a total of 29,200 IPC common shares on the TSX. All of these share repurchases were carried out by ATB Securities Inc. on behalf of IPC.

All common shares repurchased by IPC under the NCIB will be cancelled. During May 2025, IPC cancelled 605,560 common shares repurchased under the NCIB. As at May 30, 2025, the total number of issued and outstanding IPC common shares is 113,642,559 with voting rights, of which IPC holds 40,000 common shares in treasury.

Since December 5, 2024 up to and including May 30, 2025, a total of 6,068,324 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm. A maximum of 7,465,356 IPC common shares may be repurchased over the period of twelve months commencing December 5, 2024 and ending December 4, 2025, or until such earlier date as the NCIB is completed or terminated by IPC.

International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol "IPCO".